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Understanding Student Finance - Year 13 talk

Students at Scott College had the privilege of delving into the intricate world of student finance, thanks to a comprehensive talk led by Mary Coles from Next Steps South West and two University of Plymouth student ambassadors.

Year 13 students eagerly absorbed invaluable insights into navigating the financial landscape of higher education.

During the session, Mary and her colleagues illuminated the multifaceted nature of student finance, unraveling its various components for the attentive audience. They meticulously outlined both repayable, such as Tuition Fee loans and Maintenance loans, and non-repayable options, including bursaries, grants, and scholarships. Understanding eligibility criteria and the intricate application processes were emphasised to empower students in making informed decisions.

Mary Coles shed light on the practical aspects of student loans, talking about how tuition fee loans are repaid gradually over time. Moreover, she provided illustrative examples of maintenance loans tailored to different living circumstances, be it at home or in bustling London.

Beyond loans, the talk extended to highlight other avenues of financial support available to students. Mary underscored the importance of Disabled Student Allowance, scholarships, and specialised financial assistance like the Care Leavers' Bursary and subject-specific scholarships. The discussion also touched upon university hardship funds, reflecting a commitment to ensuring that financial barriers do not impede educational pursuits.

To ensure parents/guardians understand how to support an application for funding, additional guidance has been added on gov.uk covering the application process and providing income details this can be found at 

www.gov.uk/guidance/supporting-your-child-or-partners-student-finance-application-in-3-easy-steps 

We are going to share this information with Year 13 parents so that they can be prepared in time for when student finance applications open at the end of March.